Google Analytics

Saturday, December 14

14th Dec - Weekender: Linkfest

Previously on MoreLiver’s:

Follow ‘MoreLiver’ on Twitter or Facebook

Brussels blog round up 7 – 13 DecemberEuropp / LSE
Bank supervision, EU defence policy, and does migration make you happier?

Is the eurozone beginning to wake up to reality?The Money Illusion
If the Germans are recognizing that eurozone NGDP growth is too slow, that’s a very positive sign.  On the other hand it’s frustrating to see people continue to get causality backwards.

Europe’s Cypriot Solution for Failing BanksPIIE
The European Council and European Parliament have reached a political agreement on how to deal with banking failures. The new rules—known as the Bank Recovery and Resolution Directive (BRRD)—make clear that the treatment of Cypriot banks earlier in 2013 set a precedent.

Charlemagne: Banking on a new unionThe Economist
The promises and pitfalls of the euro zone’s next big idea.

European banks: From bail-out to bail-inThe Economist
Slovenia’s banking bail-out announced on December 12th followed a familiar pattern. Having driven over the precipice thanks to crazy lending, the country’s three big banks are being hauled back onto the road by taxpayers.

Europe faces moment of truth on banks, with flawed defences Reuters
Sharp rise in banks buying own governments' bonds * Cheap ECB loans gives banks windfall profit on state debt * Politicians' attempts to break "doom loop" faltering

More easing from the ECB: We expect a negative deposit rateDanske Bank
We see a strong case for more easing from the ECB. Our main scenario is a 0.1pp deposit cut at the meeting in March together with a 0.1pp refi cut.

Voting rights at the ECB: New club rules The Economist
Germans will soon have another reason to fume about the euro

How long can the ECB hold out before taking the QE route?TradingFloor
The ECB needs to cross the Rubicon next year and launch a QE programme if it's to address the current weakness in the Eurozone. But the data may need to get even worse before a majority on the governing council emerges in favour of monetary stimulus.

Euro area: Employment no longer fallingNordea
In the Euro area, employment is no longer falling. In a few "crisis countries", employment actually grew strongly in Q3. Looking forward, the recovery heavily supported by the ECB still has a long way to go, especially on the labour market.

Economic Recovery in the Euro Area – The role of Monetary PolicyECB
Peter Praet, Member of the Executive Board of the ECB, 13 December 2013

Ireland's dead cat bounceThe Economist
From an initial glance, it may seem that the “luck of the Irish” has returned. But first impressions can often be deceiving: Ireland is almost as far away as ever from a clean bill of economic health.

Sweden: Strong labour market will not prevent a rate cut next weekNordea
Sweden: Low inflation points to repo rate cutNordea

Netherlands: Slow growth and ongoing fiscal challengesNordea
We took a closer look at the Netherlands both from a macro and a bond perspective. Growth will at best be slow next year and the debt-to-GDP ratio is likely to go on rising. We prefer Finnish and Austrian over Dutch bonds.

What Europe Means to Ukraine's ProtestersThe Atlantic
Ask people why they're camped out in Kiev's streets, and you'll get a multitude of answers. Will that doom the protest movement? 

Despite budget deal, atmosphere at U.S. Capitol remains toxicReuters
Congress' agenda for the next year is full of specifics, including raising the debt ceiling, funding individual government programs, immigration reform and passing a farm bill.

Should the Fed Switch Its Benchmark Rates?WSJ
The Federal Reserve is testing a new bond-trading program that is working so well, some influential people think it could lead the central bank to ditch its current policy lever.

Great Graphic: Fed Forecasts for 2013 and What Many are MissingMarc to Market

FOMC preview : 50:50 odds of Fed tapering next weekNordea
We believe there is close to a 50% chance that the Fed will announce tapering of its asset purchases as early as next week’s FOMC meeting. If tapering is not announced on Wednesday 18 December, we would expect it at the 28-29 January meeting. Thus, we believe the Fed is very close to an inflection point with a shift from more to less policy easing.

Grading AbenomicsProject Syndicate
Last December, Shinzo Abe returned as Japan's prime minister and quickly launched what came to be known as “Abenomics,” a strategy designed to end almost two decades of deflation and stagnation. A year later, an initial assessment of how Abe's strategy is faring indicates both progress and shortcomings.

The real most important chart of 2013?Noahpinion
It has looked for the past few years that China has been casting about for an enemy against which to fight a "splendid little war".

Trade Ideas for 2014Global Macro Trading

Goldman's Top 100 Charts Of 2013 - Part 1ZH

Warren Buffett’s Meeting with University of Maryland MBA StudentsDavid Kass

The 10 Elections to Watch in 2014The Atlantic
From Brazil to Turkey, the races that will matter next year
Kass: Expect the Unexpected in 2014The Street

Market-Making Is Making MarketsView / BB

[Feb 2010] Basically, It's OverCharlie Munger / Slate
A parable about how one nation came to financial ruin.

Bill Gates — The Seven Best Books I Read in 2013Farnam Street

NSA uses Google cookies to pinpoint targets for hackingWaPo

Differences in How Men and Women Think Are Hard-WiredWSJ
Recent Studies Raise the Possibility That Male Brains Are Wired for Focus, Female Brains for Multitasking

2013: The Year in Photos, January – AprilThe Atlantic

Uusi kirstunvartija povaa seitsemää kovaa vuottaTalSa
Valtiovarainministeriön kansantalousosaston uusi osastopäällikkö Markus Sovala uskoo tulevaisuuteen. Edessä ovat kuitenkin rankat ajat.

Eurokriisin inhimilliset kustannukset eivät näy talousmalleissaTalSa

Pankinjohtajat: Kotitalouksien lainanottohalut alamaissaTalSa

Olisipa 1930-luku? Suomen velkasuhde kasvanut eniten euromaistaTalSa